Eastern Ontario New Home & Condo Guide - Jan 21, 2017

JAN 21 - FEB 4, 2017 VOLUME 17, ISSUE 2, FREE

-O PULL UT SEC AL TI CI

N O

SP E

EASTERN ONTARIO EDITION

CO

FEATURING

N

DO M

OTT-BLK-ADL-3215 Cover-Mockup.indd 3

INSIDE THIS ISSUE

BABY BOOMERS: WHERE ARE WE ALL GOING TO LIVE?

THE BENEFITS OF AN INCOME PROPERTY

IT IE S

spotlight on condos U INIU M COMM

WHY 2017 IS STILL A GOOD YEAR TO BUY A HOME

N

2017-01-11 10:58 AM

OUR ROOTS ARE DEEP

For generations we’ve been here, helping Ottawa families create their homes and build their dreams. This is our home too, and we’re proud to have been a part of building this great city.

ottawahomes.minto.com

UPGRADE YOUR DREAM HOME ON US WITH AMAZING DESIGN STUDIO CREDITS

STITTSVILLE Townhomes

From $316,990 UP TO $50,000 IN DESIGN STUDIO CREDITS & SAVE UP TO $30,000 ON PREMIUM LOTS

Detached Homes

From $474,990

SALES CENTRE 1879 Stittsville Main Street • 613-435-7171 ELEVATION ‘A’

Townhome, The Monaco ‘A’, 1,867 Sq.Ft. $323,990 Includes: 3 Stainless Steel Appliances & $20,000 at Décor

SALES CENTRE HOURS

Monday - Thursday 1 pm-8 pm; Friday 1 pm-6 pm; Saturday, Sunday and Holidays 11 am-6 pm

All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

The Valleyfield Model Home in Half Moon Bay, Barrhaven

38' Home, The Madison ‘A’, 2,027 Sq.Ft. $474,990 Includes: $50,000 at Décor

38' Home, The Chelsea ‘B’, 2,429 Sq.Ft. $497,990 Includes: $50,000 at Décor

38' Home, The Annex ‘A’, 2,621 Sq.Ft. $504,990 Includes: $50,000 at Décor

38' Home, The Soho ‘B’, 2,816 Sq.Ft. $517,990 Includes: $50,000 at Décor

46' Home, The Wynwood ‘A’, 1,971 Sq.Ft. $524,990 46' Home, The Messara ‘A’, 3,293 Sq.Ft. $594,990 Includes: $25,000 at Décor or $25,000 off purchase price

MATTAMYHOMES.COM

Award winning homes Claridge Homes was honoured with three awards from the Greater Ottawa Home Builders’ Association at the 2016 SAM Awards ceremony this year! Our Doyle model located at Spring Valley Trails in Navan won Best Single Family Home Model (2,000–2,4990 sq. ft.), The Strathcona model at Hunt Club Flats won Best Low Rise Condo Model, and The York model located at Waterstreet won Best High Rise Condo Model!

30th Anniversary Celebration In honour of Claridge’s 30th Anniversary, and in addition to the variety of luxurious features already included in the new Diamond Series single family homes, purchasers will receive a BONUS finished rec room in the basement. Plus, design your home your way with up to $10,000* to spend at the Design Centre!

*Prices and specifications are subject to change without notice. E.&O.E. Some conditions may apply.

Not available for inventory or move-in ready homes. See sales representative for more details.

Move in ready homes This winter Claridge Homes is wrapping up the anniversary of our 30th year with our best offers yet. As Ottawa’s largest builder of homes and condominiums we have plenty of move in ready homes waiting for you across the city. Ready immediately, or in as little as 4 weeks, we have homes big and small that will fit your unique lifestyle.

SOPHIA II B (Findlay Creek)

THE MOONEY’S BAY (Hunt Club)

Immediate Availability 3400 sq ft Single Home (Lot 124) Over $55K in upgrades Only $592,900

Immediate Availability 990 sq ft 2 Bed Condo Flat (Block C Unit 104) Only $277,900

JACKSON (Barrhaven)

CHESTER 4 BED (Riverside South)

Immediate Availability 3030 sq ft Single Home (Lot 98) Over $30K in upgrades Only $602,900

Immediate Availability 2265 sq ft Single Model Home (Lot 111) Over $70K in upgrades Only $549,900

QUEENSBY IV (Navan)

UNITY (Kanata)

Immediate Availability 1705 sq ft Townhome (Block 36 Unit 189) Over $60K in upgrades Only $324,900

Immediate Availability 1875 sq ft Townhome (Block 10 Unit 53) Over $30K in upgrades, corner unit Only $391,900

ClaridgeHomes.com

contents JAN 21 - FEB 4, 2017 | VOLUME 17 ISSUE 2

VICE-PRESIDENT & CHIEF PUBLISHING OFFICER

Caroline Andrews PUBLISHER & GENERAL MANAGER

Shawn Woodford DIRECTOR OF SALES, NATIONAL

Moe Lalani

C06

trending

Why 2017 is still a good year to buy a home

030 Hot Topic

ON THE COVER

Cardel Homes

Exciting communities coming in 2017

Jennifer Reynolds SALES MANAGER, EASTERN ONTARIO

Paul Bimm EDITOR

Wayne Karl

024 Housing Market

20

SENIOR MANAGER, CONTENT

ART DIRECTOR

Tammy Leung CONTRIBUTING EDITORS

Sonia Bell Elisa Krovblit Lydia McNutt

10 New Year’s resolutions for real estate in 2017 SALES CO-ORDINATOR, EASTERN ONTARIO

Sarah Khan

advice

C04 Make Your Move It’s all about timing

by Chuck Resnick

NATIONAL CIRCULATION MANAGER

John Jenkins

PRODUCTION MANAGER

C10 Home Smarts

Helen Pearce

The benefits of an income property

PRODUCTION CO-ORDINATOR

by Marnie Bennett

Miguel Cea Mike Terentiev

Dennis Ng GRAPHIC DESIGNERS

C12 CHBA Condo Insert | C01-C16

Spotlight on Condos

Your guide to new condo communities in the Gatineau and Greater Ottawa Area

Baby Boomers: Where are we all going to live?

by Bob Finnigan

019 Mortgage Advice

Four questions to ask your mortgage broker

by Alyssa Furtado

in every issue

022 GOHBA Report

010 Editor’s Note

2017 and Ottawa’s residential construction industry

027 Mortgage Rates

by John Herbert

028 Hot Properties 032 Advertisers Index 034 Neighbourhood Profile

+ online

035 What’s Online NEIGHBOURHOOD

property profile

C06 Domicile

Come and view the model suites at Crème Condominiums

HOME SEARCH

MORE +PHOTOS +VIDEOS +ADVICE +INSPIRATION +TRENDING

WITH

DYNAMIC MAPS

LOOK FOR THE CIRCLE

PUBLISHED Saturdays, 2017 Publishing Schedule:

Bi-weekly Jan.-June and Aug.-Nov. Monthly: July & Dec. 1 ADVERTISING Call 416.626.4200 for advertising

rates and information.

CIRCULATION Highly targeted, free distribution

system aimed at real estate buyers using street level boxes and racking, plus door-to-door insertions in key audience segments.

COPYRIGHT 2017 All rights reserved by Yellow Pages Homes Limited. Reproduction in any form is prohibited. Contents of this publication are covered by copyright and offenders will be prosecuted under the law.

TERMS Advertisers, editorial content and New Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL Submissions from interested parties will be considered. Email wayne.karl@ypnexthome.ca. The views and data expressed by columnists do not necessarily represent those of the publication.

Editor’s Note

Ottawa off to a strong start for 2017

WAYNE KARL Senior Editor Yellow Pages NextHome Email: Wayne.Karl@ypnexthome.ca Twitter: @WayneKarl

LAST ISSUE, we wondered what might be in store for the Eastern Ontario housing market in 2017.

Weeks later, we now know – and it’s all good.

The price of a home in Ottawa saw healthy growth in the fourth quarter of 2016, increasing by 5.1 per cent year-over-year to $415,806, according to the most recent Royal LePage House Price Survey.

When broken out by housing type, the median price of a bungalow saw a strong increase of 8.5 per cent year-over-year to $418,070. During the same period, standard two-storeys grew 4.4 per cent to $432,157, and condominiums 3.5 per cent to $321,774.

Looking ahead to 2017, Royal LePage forecasts a year-over-year price increase of 1.7 per cent for the Ottawa region.

“We have a steady economy, strong employment and see very little talk of problems in the future,” says John Rogan, broker of record, Royal LePage Performance Realty. “We don’t see anything hurting our market in the coming year.”

Welcome to 2017, Ottawa. You’re off to a great start.

ONLINE

SEE MORE PHOTOS ONLINE

Barrhaven is the family mecca of Ottawa. From the many parks and splash pads, to the abundance of family-friendly restaurants, Barrhaven is geared toward children and their families. Read the full story… ypnexthome.ca/barrhaven

+ get social 10 YPNEXTHOME.CA

Interact with us on social media: ypnexthome

I live for making memories.

I live in

.

Discover your own.

CARDELHOMES.COM SINGLE-FAMILY HOMES

CONDOMINIUMS

Y Ve sa nt Le or

PLATEAU DU PARC

in

9 KM fRoM paRliaMent

Corner of ch. Pink & boul. des Grives, Gatineau

o

PP L o as rt t u n it

Y

From the $330’s*

PLATEAU SYMMES 11 KM fRoM paRliaMent 895-3 boul du Plateau, Gatineau

W c at o e M r M Fr u o n n it t Y

From the $200’s*

DOMAINE DU VIEUX-PORT 9 KM fRoM paRliaMent

1400 boul. St-Joseph, Gatineau

o

PP L o as rt t u n it

Y

Singles from the $640’s*

DOMAINE DU VIEUX-PORT 9 KM fRoM paRliaMent

1400 boul. St-Joseph, Gatineau

W c at o e M r M Fr u o n n it t Y

Condos from the $260’s*

PETRIE’S LANDING I 21 KM fRoM paRliaMent

8865 Jeanne d’Arc Blvd., Orléans

W c at o e M r M Fr u o n n it t Y

From the $190’s*

PETRIE’S LANDING II 21 KM fRoM paRliaMent

8865 Jeanne d’Arc Blvd., Orléans

c n ne o o W n W P st u H ru n as c de e ti r o n

From the $280’s*

CARLETON CROSSING

51 KM fRoM paRliaMent 117 McGregor St., Carleton Place

From the $280’s*

• Hardwood floors • 9 foot smooth ceilings • PVC kitchen cabinets & quartz countertops • Glass-panel shower & freestanding bath

• High end finished • 9 foot smooth ceilings • PVC kitchen cabinets & granite countertops • Glass-panel shower & freestanding bath

• Hardwood floors • 9 foot smooth ceilings • PVC kitchen cabinets & quartz countertops • Glass-panel shower & freestanding bath

• Engineered hardwood floors • 9 foot smooth ceilings • PVC kitchen cabinets & granite countertops • Glass-panel shower & luxurious soaker tub

• Engineered hardwood floors • 9 foot smooth ceilings • PVC kitchen cabinets & granite countertops • Glass-panel shower & luxurious soaker tub

• High end finished • 9 foot smooth ceilings • PVC kitchen cabinets & granite countertops • Glass-panel shower & luxurious soaker tub

• Hardwood floors • Gas fireplace with surround • PVC kitchen cabinets & granite countertops • Glass-panel shower & luxurious soaker tub

*See Sales Representative for details. Prices, specifications, specifications, features and offerings offerings are subject to change without notice.

E & O.E. Promotions may be changed and/or cancelled at any time without notice.

819.776.4663

819.682.4663

819.777.4663

819.777.4663

613.824.4059

613.824.4059

613.257.4079

brigil.com

Tower II now in construction 80% sold! ReseRve now!

Nestled on the edge of the Ottawa River, in Orléans, Petrie’s Landing harnesses the natural beauty of its surroundings in order to provide residents with a unique balance of rural and urban living.

Housing types ›

Condominiums

›

Hotel-inspired luxury condos

Petrie’s Landing

21 KM fRoM paRliaMent 8865 Jeanne d’Arc Blvd. N. Orléans, ON

613.824.4059

Luxurious contemporary homes QuicK occupancy!

With Gatineau Park in your backyard, Plateau du Parc is a true paradise for outdoor enthusiasts whether it is for bicycle paths, four seasons hiking paths or just enjoying the picturesque scenery.

Housing types ›

Single family homes

›

Condominiums

PLateau du Parc 9 KM fRoM paRliaMent

Corner of ch. Pink & boul. des Grives, Gatineau, QC

819.776.4663

Small town, charm included visit us!

Carleton Crossing, in Carleton Place, offers an unbeatable quality of life, just minutes from the serene Mississippi River, scenic trails, recreation, arts & culture facilities and local shops.

Housing types ›

Single family homes

›

Semi-detached

›

Townhomes

›

Condominiums

carLeton crossing 51 KM fRoM paRliaMent 117 McGregor St. Carleton Place, ON

613.257.4079

28 TOWNHOMES RELEASED Award Winning Townhome Released in Orleans Our new and exciting designs are conveniently located next to Trim Road in Orleans. Enjoy the mix of nature and many shopping options while having easy access to the Queensway.

Hurry and choose your favorite model, they will go fast!

Valecraft Homes is celebrating 35 years of building solid, well-designed and crafted homes.

We have old-fashioned ideals, but we rely on the most modern building technologies to bring those ideals to life.

View our gallery and find your perfect home!

Valecraft.com

596 Du Pin Rouge Way, Orléans Tel: (613) 830-6955 cardinaltrail@valecraft.com

Starting from $314,900

* See sales consultant for details. Prices, terms and specifications are subject to change without notice. E & O.E.

JAN 21 - FEB 4, 2017 VOLUME 17, ISSUE 2, FREE

EASTERN ONTARIO EDITION

YOUR PULL-OUT GUIDE to highrise, conversion, loft, terrace & townhome condo projects

BRILLIANTLY DESIGNED & BEAUTIFULLY BUILT

1 TO 3 BEDROOM SUITES RANGING FROM 444 SQFT TO 1737 SQFT LOCATED IN OTTAWA’S COVETED BYWARD MARKET NEIGHBOURHOOD CURRENTLY UNDER CONSTRUCTION!

spotlight on condos

WHEN LIFE BECOMES AN ART

C2

VISIT US TO DISCOVER OTTAWA’S NEW STANDARD SALES GALLERY 264 RIDEAU STREET, OTTAWA MONDAY TO THURSDAY: 12:00 PM TO 6:00 PM | WEEKENDS AND HOLIDAYS: 12:00 PM TO 5:00 PM (CLOSED ON FRIDAYS)

REGISTER NOW | ARTHAUSCONDOS.COM | 613 909 3223 © DevMcGill All rights reserved 2017. Specifications are subject to change without notice.

Rendering is artist’s concept. Exclusive Listing Brokerage: TradeUp Real Estate Inc., Brokerage. Brokers Protected. E. & O.E. 2016.

E IN V O M OW N

DOWNTOWN LIVING RICHCRAFT STYLING IT’S ON ITS WAY. The Bowery Condos by Richcraft. Located at 255 Bay — just steps from the Lyon Street LRT station. European appliances, quartz counter tops, hardwood a place to gather, lounge, eat, swim and workout. Presentation Gallery: 136 Bank street.

MODERN STUDIO, 1+2 BDRM + 2 STORY LOFTS FROM $194,000

THEBOWERYCONDOS.CA • 613.695.7577

spotlight on condos

condos + lofts

C3

Advice | MAKE YOUR MOVE

It’s all about timing

By Chuck Resnick

MORE ADVICE ONLINE ypnexthome.ca/news/advice

TIMING IS EVERYTHING, and when it comes to ensuring a successful move, that statement rings true.

Even if it’s not “everything,” using some careful planning and forethought helps “everything” happen efficiently. The point is, as soon as you decide to move, start your thinking process, explore your options and take action.

First, are you going to move yourself, or will you hire movers? It’s best to book the truck or the moving company at least a month ahead, and preferably more. Keep in mind that because of more cooperative weather, late spring, early summer and early fall are the most popular times of the year for moves. If you wait too long to book, you may have trouble getting someone during those seasons. Keep in mind, June 30 is the busiest moving day of the year!

Next, are you going to pack or take advantage of professional packing services? If you are thinking DIY, start collecting/buying boxes and packing material. Remember that professional movers usually sell standard-size boxes that are sturdy and easy to stack, as well as paper that can protect your items without leaving newsprint behind.

Last, but not least, what do you want/need to move? Now is the time to purge all of those unnecessary items that have been at the back of your closets for months, and often years. The less “stuff” you move, the easier and less expensive it will be.

Following is a handy reference for what to do, and when: C4 YPNEXTHOME.CA

A month before the move … » De-clutter, sort, pitch, give away, donate to charity, host a yard sale – whatever. Just pare down your stuff. » Obtain change-of-address cards from your local post office. » Notify magazines, insurance companies, banks, credit card companies, schools and employers of your change of address. » Start using up food and perishables to minimize what you throw out on moving day. » If you are moving to a new home or condo that includes appliances, ask for the owner’s manuals ahead of time.

2 weeks to 1 week in advance… » Make a “survival closet” of items you will need to clean the place once furniture is moved (broom, dustpan, cleansers), and even snacks that you can grab quickly during the process. » Either start packing or make sure your mover begins. Label boxes as you pack with both the contents and which room each will go into at your new digs. Write the destination room on the top and sides of each box. » Schedule disconnects for utilities and phone, but make sure you still have the use of your phone

line on moving day. At the same time, arrange for hook-ups at the other end. » Cancel newspapers, cable TV, security system monitoring and any companies you use for services such as cleaning and lawn maintenance. » Mail out change-of-address cards.

The day before the move… » Clean out, defrost and dry the fridge and freezer. » Get to a bank or bank machine and take out enough cash to tide you over. » Pack a last-minute essentials bag/box. » Arrange for children and pets to be looked after elsewhere on moving day.

On moving day… » Double and triple check rooms, closets, the garage and basement to ensure that you have all of your things and the areas are left clean. » Don’t forget to carry your own (family’s) valuables, cash and items relevant to the move, and all other important documents.

Chuck Resnick is vice-president of marketing and operations, Two Men and a Truck Canada. twomenandatruck.ca

Revision Final Bleed

Insertion date

Material Deadline

Studio

Anything but mainstream

613 806 6246 | CornersOnMain.ca

C5

Ad Number

Sales Centre, 223 Main St. at Hazel, Mon – Thurs 12 – 6pm, Sat – Sun 12 – 5pm

spotlight on condos

Final Trim

Final Live

There is much to love about the revitalization of Main Street in Old Ottawa East.

But when choosing a new home, only Domicile can give you a condo with just as much character as the street itself. Discover a new way of life, and a new way of living, at the Corners on Main presentation centre. Phase 2 is now selling, but won’t be for long.

Property Profile | DOMICILE

condo cover story

Crème Condominiums spotlight on condos

Come and view the model suites

C6

Location

MIX A LITTLE country charm with

Orleans

first-class modern luxury and you get Domicile’s Crème Condominiums.

Located on Navan Road at Renaud Road in Orleans, there are now two new model suites to view in one of the Flats buildings.

The three-storey Flats buildings feature 12 suites in each building, and they are a perfect complement to Crème’s two-storey buildings which house the bungalows and lofts. Spacious layouts offer generous kitchens, separate dining areas, ample closet space and big bright windows throughout. Crème is a unique project in the Orleans area, and the Flats especially so. At Crème you’ll find maintenance-free living at

Builder

Domicile Development

Crème Condominiums Home Type

Bungalows, lofts, flats Sales Centre

3143 Navan Rd., open Monday to Thursday noon to 6 p.m., Saturday and Sunday noon to 5 p.m., closed Friday Contact

613.-807.0316

its finest. The heated underground parking and elevator are two of the more notable perks offered to residents in the Flats.

The two model suites have been decorated with different buyers in mind. The first will likely appeal to a first-time buyer, for whom Domicile offers a First Time Home Buyer Program with attractive incentives.

With a modern and chic aesthetic, this suite features the 2017 Pantone colour of the year, Greenery. The second model has a warm, classic style one might align with mature downsizers.

In this suite, there is an emphasis on texture – another top trend this year.

Come and view the models firsthand and you’ll easily be able to imagine

your new life at Crème.

Once home to a proud FrenchCanadian dairy farm, Crème Condominiums has incorporated its history with a present day flare for style. Crème is located just minutes outside of Ottawa, but offers residents an escape from the city.

Imagine living at the crossroads of the country and the city, but with a modern twist. With many local parks and trails, nature’s activities are right outside your door. Need to swing by the store? No problem. Every convenience, including the 417, is just around the corner.

Crème is more than simply a place to live – it is a community. Both downsizers and first-time buyers alike will benefit from the community garden just steps from their front doors. Whether it’s your first foray into horticulture, or you’ve been an avid gardener for decades, this unique feature of Crème Condominiums is bound to inspire, while cultivating neighbourly bonds. The first growing season is only a few months away.

The two-bedroom flats range from 1,134 to 1,279 sq. ft. With prices starting at $270,000, these suites are for everyone. This smoke-free

environment is targeted towards a particular kind of buyer: someone who craves the outdoors, but doesn’t want to sacrifice condo-living; a buyer who wants to be away from the hustle and bustle of the city, but doesn’t want a long commute to work, and a buyer who desires a first-class product at a reasonable price. On top of that, every home comes with Domicile’s four-year extended warranty.

For more information, please visit the sales centre or the website at domicile.ca

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO C7

Buy at CLARIDGE FUSION and save $50,000 on your purchase price* Your Own Urban Oasis At Claridge Fusion, all of life’s pleasures come together in one eco-friendly living environment. Fusion is LEEDŽ Silver certified, and incorporates our most comprehensive array of green initiatives yet. Buy a 2 bedroom unit and close before June 2017 to receive a limited time offer of $50,000 off your purchase price, plus a free parking spot! Visit our sales centre today for more details.

spotlight on condos

300 Lett Street 613.232.2049

C8

www.claridgefusion.com

* Excludes boutique townhomes, parking spot included with purchase. Must close before June 2017 to receive offer. Prices and specifications are subject to change without notice. E.&O.E.

moreValue

Move-in ready units. Up to $10,000 in designer finishes included!

STIRLING PARK | MERIVALE Now occupying! 1 & 2 bedroom units starting from $272,000 330 Titan Private, Unit 107, Ottawa 613-224-0330 WATERSTREET | LOWERTOWN Now occupying! Studio, 1 & 2 bedroom units starting from $286,000 316 Bruyère Street, Unit 112, Ottawa 613-680-6560 CLARIDGE PLAZA 3 | RIDEAU STREET Models now open! Move-in ready 1 & 2 bedroom units starting from $339,000 244 Rideau Street, Ottawa 613-241-3235 File is half size FINAL: 48” x 48”

CLARIDGE PLAZA 4 | RIDEAU STREET Now occupying! Studio, 1 & 2 bedroom units starting from $232,000 244 Rideau Street, Ottawa 613-241-3235

FUSION | LEBRETON FLATS Models now open! Move-in ready 1, 2 & 3 bedroom units starting from $278,000 300 Lett Street, Ottawa 613-232-2049 TRIBECA EAST | DOWNTOWN METCALFE Now occupying! Studio, 1 & 2 bedroom units starting from $248,000 56 Nepean Street, Ottawa 613-234-1780

moreChoice

CLARIDGE ICON | LITTLE ITALY Now under construction! 1 & 2 bedroom units starting from $291,000 485 Preston Street, Ottawa 613-695-1441

THE LOFTS AT TRIBECA | DOWNTOWN METCALFE Now under construction! 1 & 2 bedroom units starting from the mid $400s Includes underground parking 56 Nepean Street, Ottawa 613-234-1780

ClaridgeHomes.com

spotlight on condos

Now under construction. Secure your new home and ask about our upgraded finishes at these locations.

C9

Advice | HOME SMARTS

Beyond the family home The benefits of an income property

By Marnie Bennett

MORE ADVICE ONLINE ypnexthome.ca/news/advice

I LOVE IT when my clients share my passion for real estate. Lately, I’m finding that more and more of them are expressing interest in income properties and other real estate investment opportunities.

They are looking to supplement their pensions and collect passive income or they are considering buying a new property from paper for equity income. These types of investments in real estate are one of my firm’s specialties for a good reason: I’m a firm believer that, when done responsibly, investing in real estate can pave the way to financial independence and buying real estate is a smart choice - asset class diversification and wealth creation.

I can’t lie – I get pretty excited when I’m approached about this topic. Having worked in the Ottawa region for more than 30 years, I’ve seen it blossom into one of the country’s most promising areas for this type of investment. As a real estate investor, I know how important it is to have a diversified portfolio. It is a fixed asset, you can leverage it, you can buy with other people’s money, or you can rent it, flip it, re-finance it or sell it for a profit.

Assuming you don’t have the cash to pay for an income property outright – and few of us do – you may wonder how taking on an additional mortgage can possibly make good financial sense – there is good debt and bad debt. In simple terms, there are various ways to finance your investment. You can give your current home a job and C10 YPNEXTHOME.CA

help finance this investment, your mortgage payments will be covered or substantially covered by your tenant’s rent, and there are tax advantages and other opportunities.

Over the years, the mortgage will be paid off, and you’ll own a property that has increased substantially in value and you are on your way to financial freedom.

One of the most significant differences between real estate investment and conventional investment in stocks and bonds, lies in the amount of money you need to begin. To invest in $200,000 worth of stocks, you need to have $200,000 at your disposal. To purchase an investment condo for $200,000, you need only 25 per cent of that amount.

As with any investment, it’s important to be well-informed before you begin. I strongly

recommend speaking with a real estate expert who understands the Ottawa real estate investment market, someone who can help you to evaluate your timing, as well as the location and type of rental property or other real estate investments that will serve you best.

To receive a free copy of a new special report titled “Homebuyers: How to Save Thousands of Dollars When You Buy” email sales@ bennettpros.com Marnie Bennett is a broker and CEO of the Bennett Property Shop Realty, a full premium service real estate brokerage specializing in marketing and selling new and resale homes, condominiums and investment real estate. Marnie is the host of two weekly radio shows, Marnie’s Real Estate Hour and The Real Estate Edge, a millionaire real estate investor and a wealth management coach. bennettpros.com

Live and Play ON THE

SOUTH COAST OF CANADA TALL SHIPS LANDING IS LOCATED IN BROCKVILLE, CITY OF THE WORLD FAMOUS 1000 ISLANDS. TALL SHIPS COTTAGE-INIUMS™ COMBINE CAREFREE CONDO LIVING IN AN EXTRAORDINARY COASTAL RESORT, AFFORDING YOU MORE TIME FOR MAKING MEMORIES WITH FAMILY AND FRIENDS.

NEW

UP TO

S” TE

OMIZATION S UST UI “C

$100,000 CASH BACK

WH

IL E

QUANTITIES L

AS

T

BEST RECREATIONAL WATERFRONT LIFESTYLE IN CANADA

613-498-7245 (SAIL) | TALLSHIPSLANDING.COM |

Co-operating Brokers Welcome

spotlight on condos

To book a viewing contact TallShipsLanding@Fuller.ca

C11

Advice | CHBA

Baby Boomers: Where are we all going to live?

By Bob Finnigan

MORE ADVICE ONLINE ypnexthome.ca/news/advice

JUST AS BUILDERS and developers ask where our young people and the continual influx of immigrants will live, we also ask where Baby Boomers will find homes that accommodate their needs as they age.

Baby Boomers represent the largest demographic movement C12 YPNEXTHOME.CA

in Canada’s history. This massive segment of the population includes people born between 1946 and 1965, making them between 50 to 71 years old. According to Statistics Canada, in 2014-15, the growth rate of the population aged 65 and older was four times that of the total population.

As they retire or prepare for retirement, Baby Boomers begin to look at their future housing needs and many realize that these needs are, and will be, changing.

The progression is a natural one. Younger people starting families need larger homes as the family grows. Conversely, many

baby boomers with empty nests tend to seek more compact living quarters, as well as maintenancefree lifestyles. They are tired of the shoveling, mowing and other routine maintenance, and they would like to be able to unlock and enjoy some of the considerable equity they have in their current homes when they downsize. The opportunity to cash in on this level of equity power simply didn’t exist a decade or two ago.

A condominium can be the answer for some, but many cannot envision moving from a single-family home into a 750 to 1,000-sq.-ft. highrise condo with …continued on page C14

spotlight on condos

C13

…continued from page C12

limited parking. If they want a larger suite (not readily available in today’s newer buildings), it means considering older residences, many of which are in urgent need of repair and do not have modern features or amenities.

Because of soaring real estate prices and the scarcity of new ground-orientated housing, especially single-family homes (Baby Boomers are not looking for multistorey townhomes), there are very few options in the GTA. As a result, they look farther out in the smaller towns and cities where these options do exist, and there is still excellent access to shopping, entertainment, recreation and healthcare.

To the east and west along Hwy. C14 YPNEXTHOME.CA

401 and to the north along Hwy. 400 and the Niagara area – all within two hours of the GTA – homes are much more affordable, and there is product available that better suits Baby Boomers. Smaller, ground-orientated housing of various types, both condo and freehold, offer modern designs and amenities, many with singlefloor living with the master bedroom on the main floor. Some plans even have additional bedrooms in a loft for visiting family or friends. It may mean living farther away from children and grandchildren, and of course, that always has to be factored into the choice of location.

We see people in their 60s, 70s and even in their 50s taking this step so they can lead the lifestyle they want.

They are thinking ahead and banking

the equity they have. Many go back to being single-income couples before retirement or semi-retirement, and when they want big city life or have business to do, they can travel to Toronto and stay in a hotel for a couple nights.

The point is that looking at your lifestyle and the stage in life you are at, and planning ahead for your next move can be a very fulfilling and pleasant experience. Take the time to understand your choices and the places you might want to move. Visit them more than once, whether a condo or a property just out of town, and make the best decision for you.

Bob Finnigan is Principal and COO Acquisitions & Housing at Herity, and is President of the Canadian Home Builders’ Association.

spotlight on condos

C15

A CAREFREE LIFESTYLE EXCLUSIVELY YOURS

spotlight on condos

NEW RELEASE THIS WEEKEND

C16

Enjoy a sophisticated, carefree Condominium lifestyle in Fernbank Crossing, Stittsville’s most prestigious master-planned community.

Award Winning Foxwood Collection with: • Four luxurious suites • Gourmet kitchens per floor • Private ensuites • All corner suites • Elevator and • 6 Appliances underground parking

PRICED FROM THE HIGH $200’S SUITES FROM 1,040 TO 1,430 SQ. FT. 339 Bobolink Ridge (off Fernbank Rd.) in Stittsville Hours: Monday to Thursday: 10am - 5pm.

Friday: 11am - 5pm.Saturday & Sunday: 12pm - 5pm.

VISIT OUR THREE, FULLY FURNISHED, DESIGNER DECORATED SUITES. 613.404.8075 learn more at eqhomes.ca

ST I T TSV ILLE

*Prices and specifications are subject to change without notice. E. & O.E.

Advice | MORTGAGE ADVICE

4 questions to ask your mortgage broker

By Alyssa Furtado

MORE ADVICE ONLINE ypnexthome.ca/news/advice

BEFORE SEARCHING FOR A HOME, you

should get a mortgage pre-approval.

Getting one is a great start but it won’t guarantee you’ll get the best mortgage rates.

To ensure you’re getting the lowest mortgage rate, you should use a mortgage broker. A broker shops your application around to a variety of lenders before picking one with the lowest rate and the best terms.

However, finding a broker is similar to finding a real estate agent. You want the best but how do you know who’s right for you?

HERE ARE SOME QUESTIONS TO ASK:

1. How long have you been a broker?

If you’re a newcomer or a first-time homebuyer, you want someone with a lot of experience in the industry.

Someone with years of experience will recommend the best product for your situation instead of a standard five-year fixed mortgage. If a shorterterm mortgage is better for you, you’ll want a broker who will recognize what’s ideal for your circumstances.

2. How many lenders do you work with?

If you get a mortgage from your financial institution, you’ll only have one lender to choose from. However, brokers work with a number of lenders, which allows them to pick the lender who works best for your situation.

Although brokers work with many lenders, they tend to do the majority

of their business with just a few of them. That gives them the ability to get lower rates and volume discounts that are passed on directly to you.

Brokers can provide you with a list of the lenders they work with, including the ones they use the most.

3. What’s the application process?

As we move away from face-to-face communications, you should use a broker whose communication style is similar to yours. Do they prefer to communicate over the phone, in person or through email? Do they accept electronic signatures or want you to come in to sign documents?

Your broker should take you through the steps to ensure the mortgage is suitable for you and explain anything you don’t understand. The way they communicate this to you should be in a way that you’re most comfortable with so the whole mortgage application process runs smoothly.

4. How are you paid?

You don’t have to pay mortgage

brokers for their services, but keep in mind they don’t work for free.

They’re paid by the lender who takes on your mortgage and the broker’s commission is usually between 0.5 and 1.2 per cent of the mortgage amount. Also, if the mortgage term is longer, they get paid a higher commission. Your broker should explain how they’re paid.

THE BOTTOM LINE

When you’ve found a mortgage broker you like, you can start the mortgage application process. Once you’ve been pre-approved, compare the mortgage rate quote you receive with the best rates. If it’s different, ask why. Your mortgage broker should be able to tell you why you do or don’t qualify for the lowest rate. If you’ve chosen the right broker, their answer should be clear.

Alyssa Furtado is the founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 19

Property Profile | CARDEL HOMES

cover story

BIG YEAR AHEAD FOR CARDEL HOMES Location

Kanata South, Nepean, Carleton Place, Stittsville Builder

Cardel Homes Development

Blackstone, Crystal Beach, Miller’s Crossing, King’s Grant Home Type

Single-family homes, townhomes and lowrise condos Contact

cardelhomes.com

20 YPNEXTHOME.CA

THIS YEAR IS SHAPING up to be

a big one for Cardel Homes. The award-winning builder has been bringing families home to great neighbourhoods since 1973 and is poised to have one of its best years yet. Brand new models, new neighbourhoods and a return to popular communities where they’ve celebrated sold-out successes are just a taste of the exciting things to come from Cardel in 2017.

Kicking off in the Kanata South community of Blackstone is Cardel’s new model lineup including bungalows from the $430’s, new higher standard specifications in every home and a Phase 3 launch featuring single-family homes on 46-ft. lots.

With new model homes coming, too and future Cardel-exclusive phases,

this attractive community keeps getting better.

Adding to Blackstone’s allure are Cardel’s townhomes, which give buyers the chance to come home to Cardel quality at multi-family prices. A new release of Cardel’s popular Stone Series townhomes is launching this spring, showcasing open-concept designs plus a full range of unique features and upgrade options, from the $340’s. Buyers can choose from a range of three- and four-bedroom layouts, each including main floor hardwood and ceramic tile, four appliances, an air conditioner, a humidifier, a garage, a spacious living area with large windows, a finished rec room in the basement and customized designer finishes for every taste.

There’s even more happening in Blackstone during the current groundbreaking on Cardel’s lowrise KoL condos. KoL features three 12-unit buildings with elevator and heated underground parking and plans ranging from 1,175 to 1,209 sq. ft. All units are two-bedroom, two-bathroom corner units with nine-ft. ceilings, a private balcony, six appliances, granite countertops and air conditioning. Starting at just $341,900 KoL condos are ideal for downsizers, new-home owners and anyone else who appreciates the easy life. As a pre-construction incentive, the first six KoL buyers will receive free condo fees for one year.

Cardel is also preparing to unveil its Blackstone Strata stacked townhomes, which will offer the option to rent for those seeking shorter-term residencies with all the comforts.

Cardel’s multi-family offerings

go well beyond Blackstone too. In Nepean’s Crystal Beach neighbourhood, Cardel is preparing to launch its much-anticipated Keel executive condos, facing the Ottawa River and the Nepean Sailing Club near Andrew Haydon Park. With heated underground parking, elevator, topnotch features and low-maintenance convenience in every detail, Keel is ideal for professionals and downsizers.

Plans range from 830 to 1,390 sq. ft. with one-, two- and three-bedroom layouts.

In Cardel’s return to Carleton Place, the community of Miller’s Crossing features 15 new singlefamily floorplans from the $420’s, including bungalows and twostorey designs available on two lot sizes, with several elevation styles to choose from. Each home style is designed to complement the naturedraped surroundings and contribute

to attractive neighbourhood streetscapes. New model homes are now under construction and are slated to open this summer. Cardel is currently offering a limited-time promotion with the first 10 singlefamily buyers saving $10,000.

Cardel is also selling townhomes in Miller’s Crossing, combining low-maintenance convenience and affordability. Buyers can choose from seven brand new open-concept floorplans loaded with features, including air conditioning/humidifier, stainless steel appliances, hardwood and ceramic tile on main and a finished basement rec room. Starting from just $296,900, townhomes in Miller’s Crossing include high specification standards and come loaded with features – a great way to enjoy Cardel craftsmanship at a low price point.

The first five townhome buyers will receive a $5,000 design centre bonus to personalize their new home.

With even more on the horizon for 2017, Cardel is returning to Stittsville and preparing to launch a new community there this summer.

Building off the success of its popular sold-out King’s Grant community in Richmond, Cardel’s return will introduce the community of Creekside, featuring approximately 50 single-family homes on 43- and 47-ft. lots.

For more information and community updates, visit cardelhomes.com

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 21

Advice | GOHBA REPORT

2017 and Ottawa’s residential construction industry

By John Herbert

MORE ADVICE ONLINE ypnexthome.ca/news/advice

STOCK TRADERS like to say that if you

want to know what lies ahead, then you look to the left of the chart to see what has happened in the past because there is a 40- to 60-percent probability that the current trend will continue. Hopefully, this statistical probability will not hold 22 YPNEXTHOME.CA

for Ottawa’s residential construction industry, because the past few years have been challenging. This trend began with the Conservative government’s decision to balance the federal budget and one of the tools used to achieve this was a reduction in the size of the federal public service. At the national level, many would describe this as admirable and necessary but at the city level, Ottawa has had to pay a rather high price. It wasn’t just the magnitude of the job cuts that caused an industry decline but also the fact that it dragged on for so many years coupled with the manner in which union agreements required that notifications be made.

The Conservative government’s 2012 austerity budget promised to cut 19,200 jobs. A high percentage of these jobs were spread across Canada and most of them were achieved through attrition so it didn’t have any real impact on the new home construction market in Ottawa.

In fact, Ottawa produced 6,026 housing starts that year which wasn’t far off the 10-year average of 6,207.

Housing starts are always a lagging indicator because purchases occur eight to 12 months prior to a home being occupied. As a result, new home purchases made during 2012 when a positive consumer attitude remained, resulted in an

increase in housing starts during 2013, coming in at 6,560 units, an eight-per-cent increase. But 2013 also saw another series of federal job cuts totaling approximately 3,500 positions that were mostly in Ottawa, and there was a lot of coverage in the local media which began to erode confidence. Another negative factor affecting consumers was a requirement for the federal government to notify all employees in any given category that jobs were going to be eliminated. This often resulted in thousands of employees being notified that their position was being considered for elimination when in fact only a few dozen might have been on the block.

By the end of 2014, the impact of job cuts, then totaling approximately 26,000 positions began to take its toll and Ottawa consumers were cutting back on major capital expenditures.

As a result, housing starts that year fell to 5,762 units, representing a 12-per-cent decline. During 2015, a further 3,000 positions were eliminated and the required notifications were duly made, resulting in a further 14-per-cent decline, down to 4,972 units. Housing starts hadn’t been this low since 2005. From 2013 to 2015, the decline in Ottawa starts was 25 per cent.

From all available information, it

“Following the federal election in October 2016 there was hope that the new Liberal government might be required to create jobs in order to administer the much discussed infrastructure program.“ appears that a further 3,000 positions were eliminated by the government in 2016 and the long term program would see another 3,000 positions eliminated during 2017. If this occurs, the total number of jobs cut since the program was initiated in 2012 will reach 35,000. Only time will tell if the Liberal government will follow through with these plans. The final December housing statistics are not yet available but it appears that 2016 starts will be approximately equal to 2015.

Following the federal election in October 2016 there was hope that the new Liberal government might be required to create jobs in order to administer the much discussed infrastructure program.

Unfortunately, nothing of substance has occurred on this file and it would appear that few new

positions will be required.

There are some serious concerns with recent changes to mortgage rules introduced in October and November. These require homebuyers looking for an insured mortgage to pass a “stress test” and qualify for a mortgage rate at the five-year Bank of Canada posted rate — which is typically much higher than the rate offered by banks.

Another change requires buyers to put a larger down payment on houses worth more than $500,000.

Housing analysts believe that those mortgage rule changes will result in first-time homebuyers losing between 10 and 20 per cent of their purchasing power. Whatever the number, the result will be that first-time homebuyers must come up with bigger down payments and qualify for higher-rate mortgages.

This likely means they will have to buy cheaper houses, or just continue to rent. The result of these changes will create the most difficult year for first time home buyers in a decade.

Ontario’s new Cap and Trade system introduced in January is a complicated program spanning the activities of numerous Ministries and it would take a small army of accountants to calculate what the precise financial impact on a new home might be. But given what we know so far, all that can be said is that it will increase the price of a new home by $5,000 to $10,000.

Fortunately, Ottawa has been blessed with a high tech sector created primarily by the former City of Kanata and after some difficult years when the North American high tech bubble burst, it is again demonstrating significant growth that could offset federal employment declines. There is every reason to think that 2017 will be the beginning of a major recovery in Ottawa’s employment and new home construction sectors – even without the help of the federal government.

John W. Herbert is executive director of the Greater Ottawa Home Builders’ Association. He can be reached at 613.723.2926, ext. 224, or visit gohba.ca

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 23

Trending

WHY 2017 IS STILL A GOOD YEAR TO BUY A HOME

By Wayne Karl

CANADA’S various housing

markets were regular headline newsmakers last year, and not always for the most positive reasons.

From skyrocketing prices in Vancouver and Toronto, to continuing soft conditions in Alberta, to yet further mortgage rule changes courtesy of the federal government.

All of it makes for a growing list of challenges for prospective homebuyers, and might discourage some to delay their purchase.

Rest assured, however, there are reasons why 2017 is still a good year to buy a home.

(One important caveat, though: If you can afford it.)

24 YPNEXTHOME.CA

1.

A pause for the cause Slowing price growth in Vancouver and Toronto is actually a positive development for would-be buyers.

Spared from year after year of double-digit home price growth,

purchasers will no doubt appreciate a pause, as it may crack open a window of opportunity for them to buy.

Affordability is a serious concern in these two markets. Underlining the matter was a warning from Canada Mortgage and Housing Corp. (CMHC) in October which highlighted that most Canadian housing markets were overvalued,

and price growth was to slow through 2018. Home prices have risen ahead of economic fundamentals such as personal disposable income and population growth, CMHC says, resulting in overvaluation in many markets.

For GTA, specifically, resale home sales in Toronto hit a record high in 2016 for the second consecutive year, according to the Toronto Real Estate Board.

“A relatively strong regional economy, low unemployment and very low borrowing costs kept the demand for ownership housing strong in the GTA, as the region’s population continued to grow in 2016,” says TREB President Larry Cerqua.

The overall average price for 2016 was $729,922 – up 17.3 per cent over 2015. The pace of growth also accelerated through the year, including a climb of 20 per cent in December.

On the new home front, lack of supply continues to push average prices for single-family homes and highrise condos in the GTA, to unprecedented levels in November 2016, according to the Building Industry and Land Development Association (BILD).

The average price of new detached homes in the GTA hit $1.23 million in November, up 27 per cent from the previous November. In new condos, the average price rose 10 per cent to $493,137.

Personal finance guru Gail VazOxlade has a slightly different view.

It’s not lack of supply that’s driving prices up, but rather a shortage of grey matter. “(Supply) is not what is pushing new homes to record prices – stupidity is,” she wrote in a recent Twitter exchange. “#MoreMoneyThanBrains.”

Easy credit, CMHC mortgage backing and “banks’ greed” are the real causes, she says. A significant market correction might be the only solution, “but that’ll just leave a whole lot of people upside down.”

We’ll take a pause for the cause, instead.

The Canadian Real Estate Association provides one, in the

form of its average price forecast for this year. For BC, it sees prices in Vancouver falling 7.8 per cent, compared to 8.1 per-cent-growth in 2016. For Ontario, it foresees prices climbing just one per cent, versus shooting up more than 15 per cent last year.

“There will certainly be opportunity for first-time buyers in both markets,” ReMax Vice-President Elton Ash told New Home Guide. “The challenge will be in the higher qualification rates for high-ratio mortgages. Once firsttime buyers reset their affordability expectations, they will see price advantages in buying in 2017.”

is intended to assure lenders – and yourself – that you could still afford your payments if interest rates rise.

In other words, the changes are intended to protect you from the “stupidity” (Vaz-Oxlade’s words) of borrowing more easy money than you should.

You can also look forward to Ottawa releasing the National Housing Strategy some time in 2017.

It is intended to address multiple and varied issues, from affordable housing to rental markets to homeownership, and execute a vision that is equitable across differing economies, markets and conditions.

Tall order, indeed. Such complex

“The challenge will be in the higher qualification rates for high-ratio mortgages. Once first-time buyers reset their affordability expectations, they will see price advantages in buying in 2017.”

—ReMax Vice-President Elton Ash

2.

Ottawa is in your corner – really This latest mortgage rule changes introduced by the federal government late last year were intended to stabilize “overheated” housing markets, mostly in Toronto and Vancouver, slow home price growth and keep mortgage indebtedness under control.

What the changes also do, however, is make it more difficult for young Canadians to take that important first homebuying step.

Homebuyers who apply for a highratio mortgage (less than 20 per cent down payment) now have to undergo a “stress test” by qualifying at a rate (4.64 per cent) you may not even actually have to pay (if you qualified for a mortgage at some of the current better rates, say 2.5 per cent).

These changes may mean your buying power is reduced, but it’s for your own good. The stress test

and far-reaching challenges are why some critics are skeptical that Ottawa can deliver anything meaningful in the strategy.

But we’ll take a more positive outlook. Canada has never had a national strategy, and given the growing importance – and challenges – of housing, only good can come from the process.

3.

Economic mettle Canada has proven its economic mettle time and time again over the last several years.

In its Financial System Review in December, the Bank of Canada says the Canadian financial system remains resilient, as the nation’s economy improves.

Proof is in the pudding, in the way of Statistics Canada’s Employment Report from December, which says …continued on page 26

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 25

…continued from page 25

employment rose by 54,000 for the month, with the unemployment rate at 6.9 percent. For the fourth quarter of 2016, employment increased by 0.6 per cent – the largest increase since the second quarter of 2010.

For 2016 as a whole, employment gains totaled 214,000 or 1.2 per cent, compared to 0.9-per-cent growth over the same period a year earlier.

Just a bunch of numbers, right?

Not exactly.

Housing markets cannot thrive without a strong economy. Economic growth leads to employment growth, which leads to wage growth, which leads to consumer confidence – which all leads to buying homes and household goods.

Edmonton decreased by two per cent year-over-year, while in Calgary it dropped by four per cent, according to ReMax. Buyer activity is expected to pick up slightly in the second half this year, with improving employment opportunities in the oil sector.

For the province as a whole, CREA says 2016 and 2017 will finish up largely flat in terms of price growth – but this is actually an improvement over a 1.9-per-cent decline in 2015.

Alberta, no doubt, will take it.

Guide. “That optimism likely reflects gains of almost 50 per cent in oil prices last year that are raising consumer comfort levels after a couple of tough years for the economy.”

5.

Interest rates Vaz-Oxlade’s concerns notwithstanding, it’s fair to say Canadians have benefited from the prolonged period of historical low interest rates. Most experts don’t see any significant change here for 2017, though some lenders recently inched up rates on some mortgage products.

“It’s no secret that fixed mortgage rates are closely correlated with bond yields,” says Andrew C. MacDonald, client account manager at Calum Ross Mortgage, Toronto. “We’ve already seen an upward movement in bond yields from historical lows, and most lenders have started to raise interest rates slightly, as a result. The good news is rates are still hovering just above historical lows, which makes now a great time to purchase (or refinance) a home.”

“It’s no secret that fixed mortgage rates are closely correlated with bond yields” —Andrew C. MacDonald

4.

Alberta ReBound Housing markets in Calgary and Edmonton remained relatively stable in 2016, with moderate declines in sales and average prices as a result of the extended recovery of the oil sector.

The average residential sale price in

The consensus is that real estate in the province is poised to begin to rebound in the second half of 2017.

On the new home front, housing starts – an important sign of economic health – are starting to rise.

“A member survey showed home starts are expected to rise a modest 5.7 per cent in 2107,” Donna Moore, CEO of CHBA – Alberta, told New Home

CREA Residential Market Forecast 2015

2015 Annual percentage change

2016 Forecast

2016 Annual percentage change

2017 Forecast

2017 Annual percentage change

Canada

443,045

8.5

489,500

10.5

475,900

-2.8

British Columbia

636,627

12.0

688,300

8.1

634,900

-7.8

Alberta

393,138

-1.9

393,700

0.1

390,600

-0.8

Saskatchewan

297,487

-0.3

295,600

-0.6

292,000

-1.2

Manitoba

270,375

1.5

276,900

2.4

279,600

1.0

Ontario

465,554

7.7

535,700

15.1

541,300

1.0

Average price forecast

Quebec*

275,302

1.5

282,100

2.5

287,800

2.0

New Brunswick

160,400

-0.9

163,500

1.9

165,100

1.0

Nova Scotia

219,440

2.1

219,800

0.2

223,900

1.7

Prince Edward Island

161,175

-0.6

179,800

11.6

176,900

-1.6

Newfoundland

275,579

-2.9

257,000

-6.7

255,400

-0.6

*Provincial weighted average price for Quebec does not affect unweighted national average price calculations. Information on Quebec’s weighted average price calculation can be found at http:www.fciq.ca/immobilier-statistiques-definitions.php SOURCE: CANADIAN REAL ESTATE ASSOCIATION SOURCE: CANADIAN REAL ESTATE ASSOCIATION 26 YPNEXTHOME.CA

Homebuyers’ Help

Compare mortgage rates for your best deal CHARTERED BANKS

variable

ATB Financial

2.5

Alterna Bank

2.6

Bank of Montreal

2.6

Bank of Nova Scotia

2.9

Canadian Western Bank CIBC

6 months

1 year

2 years

3 years

4 years

5 years

4.1 4.10op 4 6.30op

3.04 4.10op 2.79 6.30op 3.09 6.95op 3.29 6.50op 3.14 6.30op 2.84 6.35op 3.14 3.14 6.35op 2.94 3 3.20op 3.14 6.70op

2.39 4.10op 2.74

2.64

2.69

2.89

2.59

2.84

2.84

3.19

3.59

4.09

2.89

3.09

3.39

3.89

4.49

3.04

3.65

4.2

4.74

2.79

2.74

4.09

4.79

3.04 2.15

3.65 3.39

4.39 4.09

4.64 2.35

2.94 2.94

2.94 2.84

2.99 2.79

2.99 2.89

3.04

3.39

2.79

2.94

2.79 2.49

3.34 2.74

3.99 2.84

4.44 2.99

2.84

3.44

2.69

2.94

3.24

3.49

3.69

3.79

6.95op 4.55 6.45op 4 6.45op

2.7 6.95op

Equitable Bank HSBC Bank Canada

2.35

ICICI Bank Canada Manulife Bank

2.75 2.6

National Bank

n/a

President’s Choice Finan Royal Bank

2.7 2.7

TD Canada Trust

2.6

Tangerine

2.7

4.45 6.20op 4.45 4.4 6.70op

7.00op

2.99 7.00op 3.04 4.00op 3.19

TRUST COMPANIES Community Trust Effort Trust

n/a n/a

Home Trust Investors Group Trust

2.35 n/a

MTCC

2.9

6.5 4.45 6.30op 3.95 4.2 6.50op 4.55 6.45op

3.14 3.35 6.30op 2.69 3.14 6.30op 3.29 6.50op

3.25 3.5

3.95 3.7

4.39 4.3

4.64 4.35

2.14 3.09

2.34 3.39

2.59 3.89

2.79 2.45

3.09

3.39

3.89

4.49

4 6.30op 6.2 6.40op 3.1 4.25 6.50op

2.79 6.30op 2.84 6.30op 2.64 2.89 6.50op 3.25 6.25op 2.84 6.30op 3.04 2.8 2.95op 2.39

2.74

2.59

2.84

2.84

2.89

2.95

2.99

2.89

2.64 2.79

2.64 2.89

2.84 2.95

2.94 2.89

3.2

3.65

4

4.5

2.79

2.64

3.89

2.54

2.84 2.85

3.39 2.95

3.89 3.05

4.49 3.15

2.39

2.39

2.49

2.49

OTHER FINANCIAL INSTITUTIONS Alterna Savings

2.6

Comtech Fire C.U.

2.45

First National Fin. LP IC Savings

2.7

Luminus Financial

3.25

Meridian Credit Union

2.4

PACE Savings & C.U. Parama Credit Union

2.65

Steinbach Credit Union

2.25

4.75

ONLINE CALCULATOR ypnexthome.ca/mortgage-calculator Notes: **Interest rate charged subject to adjustment during term mortgage. Please consult institution for term of years available. All rates are prime rates and subject to change without notice.

R.O.R. RATES ON REQUEST op OPEN ----- NOT QUOTING N/A NOT AVAILABLE Dec 29, 2016. Prepared By Fiscal Agents Financial Information Services 905.844.7700

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 27

Hot Properties

Find your next home! This page features a few of the latest properties to keep your eye on in the Eastern Ontario area. Find more properties at ypnexthome.ca

LATEST LISTINGS

BLACKSTONE BY CARDEL

CARLETON CROSSING

SPRING VALLEY TRAILS

GREYSTONE VILLAGE

By: Brigil City: Stittsville Housing type: Singles Contact: 613.257.4079 brigil.com

By: Claridge Homes City: Navan Housing type: Townhomes claridgehomes.com

By: eQ Homes City: Ottawa Housing type: Singles, towns, semis and condos Contact: 613.258.6488 greystonevillage.ca

ARTHAUS CONDOMINUMS LONGFIELDS STATION By: Campanale Homes City: Barrhaven Housing type: Condominium Contact: 613.440.3750 campanale.com

By: DevMcGill City: Downtown Ottawa Housing type: Condominium Contact: 613.909.3223 arthauscondos.com

THE CORNERS ON MAIN BLACKSTONE By: Cardel Homes City: Kanata South Housing type: Single Contact: 613.836.9521 cardelhomes.com

28 YPNEXTHOME.CA

By: Domicile City: Old Ottawa East Housing type: Midrise condos comprising a mix of six- and four-storeys Contact: 613.806.6246. cornersonmain.ca

eQUINELLE By: eQ Homes City: Kemptville Housing type: Bungalow Contact: 613.258.6488 eqhomes.ca

LIV TOWNS By: Glenview City: Kanata Housing type: Townhome Contact: 613.595.0591 sales@glenviewhomes.com glenviewhomes.com/liv

CRÈME CONDOMINIUMS BY DOMICILE

FINDLAY BY THE PARK

WHITE TAIL RIDGE

TALL SHIPS LANDING

By: Lemay Homes City: Leitrim Housing type: Singles, bungalows and townhomes Contact: 613.425.5255 lemayhomes.ca

By: Phoenix Homes City: Almonte Housing type: Bungalows and singles Contact: Kellie Connors 613.461.0277 phoenixhomes.ca

By: Thomas Fuller Construction Ltd. City: Brockville Housing type: Condominium Contact: 613.498.7245 tallshipslanding@fuller.ca tallshipslanding.com

FELTON COURT SOHO CHAMPAGNE By: Mastercraft Starwood City: West Central Housing type: Luxury condominiums Contact: sohochampagne.com

THE ORCHARD

By: Phoenix Homes City: Barrhaven Housing type: Townhomes Contact: phoenixhomes.ca

THE BOWERY CONDOS & LOFTS ABBOTTSVILLE CROSSING By: Mattamy City: Kanata Housing type: Singles, townhomes Contact: 613.790.2082 mattamyhomes.com

AVALON ENCORE By: Minto City: Orléans Housing type: Singles, townhome Contact: 613.834.6400 minto.com

UPPERWEST By: Minto City: Ottawa Housing type: Condominium Contact: 613.788.2786 liveupperwest.com

By: Richcraft City: Centretown Contact: 613.695.7577 thebowerycondos.ca

GALLERY TOWNHOMES By: Tamarack Homes City: Orléans Housing type: Townhomes Contact: tamarackhomes.com

HUNT CLUB TOWNS By: Theberge Homes City: Ottawa Housing type: Townhomes Contact: 613.680.5767 huntclubtowns.com

By: Uniform Urban Developments City: Barrhaven Housing type: Single-family homes and townhouses Contact: uniformdevelopments.com

RICHARDSON RIDGE By: Uniform Urban Developments City: Kanata Housing type: Singles, townhome and condo flats Contact: 613.435.7751 uniformdevelopments.com

BRADLEY ESTATES By: Valecraft Homes City: Mer Bleue/Orléans Housing type: Single-family homes and executive townhomes Contact: valecraft.com

Builders

If you would like to include your preview registration, new release or site opening in this feature, just email the details to sarah.khan@ypnexthome.ca

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 29

Trending | HOT TOPIC

10 New Year’s resolutions for real estate in 2017

By Kara Kuryllowicz

MORE ADVICE ONLINE nexthome.yp.ca/news/advice

HAVE YOU MADE YOUR NEW YEAR’S

resolutions yet? If you’re planning to buy or sell a home in 2017, here are a few key resolutions that will help with a smooth transaction.

NEW YEAR’S RESOLUTIONS FOR HOMEBUYERS

1. What’s your credit rating? Have Equifax, TransUnion or another credit reporting agency pull your credit report. If necessary, take steps to improve a poor credit rating by paying off debts before applying for your mortgage.

2. Make a budget. Can you afford a home and all the associated costs?

Is this the right decision for you?

Canada Mortgage and Housing Corp. offers tools to help you calculate your net worth, current household budget, monthly debt payments, and how much you can realistically afford to spend. Your affordability assessment may indicate you need a larger down payment or a lower price point for your purchase. Also keep in mind that new mortgage qualification rules took effect in October, requiring that all insured mortgages qualify at the Bank of Canada’s benchmark rate of 4.64 per cent, even if your lender offers you a lower rate.

30 YPNEXTHOME.CA

3. Get your financing – and supporting documents – in order. At the very least, lenders and mortgage brokers will require documentation that proves your personal information, your net worth, income, employment, the amount/source of your down payment, and your ability to pay the closing costs. Closing costs generally range from 1.5 to four per cent of the

purchase price and your lender may provide a loan to cover those.

4. Get pre-approved for a mortgage to determine the amount you can afford based on the lender’s review of your finances. This will also provide written confirmation of the interest rate that will hold for around 90 days.

NEW YEAR’S RESOLUTIONS FOR HOME SELLERS

6. Review your mortgage agreement with your financial institution and/or a mortgage professional. If you’re in the first year of a five-year term, the payout penalty might be so high that you decide to wait until at least the mid-point, if not the end of that term, to sell your home.

7. Assess the selling costs, which may include repairs, home appraisals and inspections, legal and realtor’s fees, so that you can budget and save for them.

8. Crunch the numbers. Will your home’s proceeds cover your next home purchase? Do you plan to invest part of the proceeds?

9. Purge and fix. De-clutter your home six or more months in advance, because when staging your home for sale, overstuffed storage areas suggest a lack of space rather than your organizational tendencies. If you’re downsizing into a smaller home, you’ll likely need to edit down your movables anyway, so consider this resolution twofer.

While you’re combing through your stuff, identify items that are worn, outdated or don’t work, then repair or replace them. Ask friends or family to help you identify what needs to be done, but be aware that they may be uncomfortable with the level of honesty required. A professional home stager or your real estate agent would be better suited to the task. If things like a leaky roof or basement isn’t repaired, buyers will expect a reduction in price.

5. Find the home. Search ads for homes in your desired location and price range with your preferred features. Look online, in print and of course, a tour of open houses is a fun way to spend a few hours of a weekend. If you’re opting for a brand new home, visit presentation centres, and explore new communities in person to

get a feel for what living there will be like. Ask friends and family for home-builder referrals, and check with your local home builders’ association for members and reviews.

As if buying a new home wasn’t complicated enough, if you already own a home, you’ll need to add a sale to your to-do list.

10. Assess comparable homes in your neighbourhood no more than three months prior to putting your home on the market because the conditions can change relatively quickly. Ask your selling agent to evaluate your home no more than six to eight weeks before you plan to put it on the market.

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 31

Ad Index

Builder Name

Site Name

Prices

D

Location

et a Se che m d i Bu ng To alo w w n Ad hom ul t L e/C ife on st do yl e

ADVERTISERS

Page

WEST Almonte

Phoenix

White Tail Ridge

x

Carleton Place

Brigil

Carleton Crossing

x

Carp

Phoenix

Diamondview Estates

x

Hunt Club

Claridge Homes

Hunt Club Flats

Kanata

Cardel

Blackstone

Kanata

Claridge Homes

Bridlewood

Kanata

Glenview Homes

LIV Towns

Kanata

Mattamy

Abbottsville Crossing

x

Kanata

Phoenix

Fernbank

x

Stittsville

Brigil

Loreka Court

x

Barrhaven

Claridge Homes

West Pointe Village

x

Barrhaven

Phoenix

Barrhaven

x

From $380's

12, 13

From $290's

14, 15, 16, 17

Inquire

12, 13

From $260,900

6, 7

Inquire

11

x

From $391,900

6, 7

x

From mid $200's

9

x

From $227,990

4, 5

x

From $200's

12, 13

From $467,207

14, 15, 16, 17

x

From $342,900

6, 7

Felton Court

x

From $270's

12, 13

Minto

Chapman Mills

x

From $189,900

2, 3

Barrhaven

Valecraft

Woodroffe Lofts

x

From $224,900

18

Findlay Creek

Phoenix

Pathways

x

From $200's

12, 13

Ottawa South

Claridge Homes

Summerhill Village

x

x

From $335,900

6, 7

Ottawa South

Claridge Homes

Sundance

x

From $519,900

6, 7

x

x x x

x

x

SOUTH

32 YPNEXTHOME.CA

x

Site Name

et a Se che m d i Bu ng To alo w w n Ad ho m ul t L e/C ife o st nd yl o e

Builder Name

Prices

D

Location

Page

EAST Navan

Claridge

Spring Valley Trails

Orléans

Minto

Orléans Orléans

x

x

From $339,900

6, 7

Avalon Encore

x

From $184,900

2, 3

Claridge

Royal Ridge

x

From $199,900

6, 7

Phoenix

Hillside Vista

x

From $250's

12, 13

Brockville

Fuller

Tall Ship Landing

x

Inquire

C11

Downtown

Richcraft

The Bowery

x

From $194,000

C3

Downtown

Claridge Homes

Icon

x

From $291,000

C8, C9

Downtown

Claridge Homes

The Lofts

x

From $400's

C8, C9

Downtown

Claridge Homes

Tribeca

x

From $245,000

C8, C9

Downtown

DevMcGill

Arthaus Condos

x

Inquire

C2

Kanata

Cardel

Blackstone

x

From $300's

C13

Old Ottawa East

eQ Homes

Foxwood

x

From high $200's

C16

Ottawa Central

Brigil

One Twenty-One Parkdale

x

Inquire

14, 15, 16, 17

Ottawa Central

Domicile Development Inc

The Corners on Main

x

Inquire

C5

Ottawa Central

Claridge Homes

Claridge Plaza 3 & 4

x

From $232,000

C8, C9

Ottawa Central

Claridge Homes

Fusion

x

From $288,000

C8, C9

Ottawa Central

Claridge Homes

Waterstreet

x

From $195,000

C8, C9

Ottawa Central

Mastercraft Starwood

Soho Champagne

x

From $302,900

C15

Ottawa West

Tamarack

Wellington

x

From $299,068

BC

West Nepean

Claridge Homes

Stirling Park

x

From $247,000

C8, C9

CONDO

JAN 21 - FEB 4, 2017 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 33

Neighbourhood Profile

Barrhaven A family-friendly oasis that’s worth the drive Fast facts

By Lindsay Foran

Average household income

$131,531 Family structure FAMILIES

COUPLES

SINGLES

55%

30%

15%

Own vs. rent

94% OWNERS

MORE PHOTOS ONLINE ypnexthome.ca/ottawa-barrhaven

IN A WIDELY circulated meme, two friends argue about where to spend Saturday night. One wants to go downtown for the action. The other wants to go to a kid’s birthday party in Barrhaven with no alcohol, but plenty of cake! This dilemma sums up the area; it will cost $50 to take a cab and the bus will take him two hours. Yes, this is ‘Farhaven.’

Vibe Barrhaven is the family mecca of Ottawa. From the many parks and splash pads, to the abundance of family-friendly restaurants, Barrhaven is geared toward children and their families. The unofficial mode of transportation is the mini-van, sharing the road amicably with cyclists and foot traffic on local sidewalks.

Meet the neighbours Many first-time homebuyers take the drive out to Barrhaven because it’s a better value than downtown neighbourhoods. Once you move to Barrhaven, you may never

want to leave. With this one-way migration, there’s a mix of first-time homeowners, young families, families with teenage kids and empty-nesters.

Retirement homes are on the rise, as the senior population want to be close to their children and grandchildren.

6%

RENTERS Commute type

43% 5% 3% CAR

PUBLIC TRANSIT

WALK

On tap

In the area This is the type of neighbourhood where you can spend $6 for a latte at Starbucks or $2 for a double-double at Tim Horton’s. Either way, residents don’t judge you based on your financial situation. Restaurants tend to be average in price because they cater to the younger families.

Planes, trains & automobiles Yes, “Farhaven” is far, but as residents say, it’s a drive you get used to. Within minutes you have access to the 416 and 417. There is also a Via Rail station on Fallowfield. Barrhaven is also only a few minutes from the Ottawa International Airport. With the new bridge connecting Strandherd to Prince of Wales, getting around the city has never been easier.

COORS LIGHT

CORONA

ALEXANDER KEITH’S SOURCE: ENVIRONICS

Real estate The good? Everything you need is right at your fingertips. The bad? Most people need to make the commute to work each day since there isn’t much in terms of industry in Barrhaven. Other than the retail, restaurant, or medical businesses, all other residents need to make the drive downtown. This can make for some heavy congestion getting in and out of Barrhaven.

Lindsay has lived in the Ottawa/Gatineau area her whole life. When she’s not touring the city in search of the hottest new neighbourhoods she’s busy writing fiction and enjoying life with her husband and two dogs.

34 YPNEXTHOME.CA

1% CYCLE

What’s Online

Trending now The latest real estate news from across Canada

Area carpets: Let’s lay it all out there READ THE STORY ONLINE

Canadian home sales cool but prices continue to rise

nexthome.yp.ca/area-carpets

READ THE STORY ONLINE nexthome.yp.ca/home-sales-cool

Top 5 celebrity home sales of 2016 READ THE STORY ONLINE nexthome.yp.ca/celebrity-sales

Next stop, success: Why you should invest near transit

Want more great articles like these delivered directly to your inbox?

SIGN UP FOR OUR NEWSLETTER

READ THE STORY ONLINE nexthome.yp.ca/invest-transit

Twitter @ypnexthome @ypnexthome_EO

Facebook ypnexthome

Visit our website:

nexthome.yp.ca/newsletter

Instagram ypnexthome

Pinterest ypnexthome

FINISHED SUITES NOW AVAILABLE FOR VIEWING

THE 1ST RESIDENTS ARE NOW HOME IN TAMARACK WELLINGTON AND THE

REVIEWS ARE SPECTACULAR!

Warm, light-filled spaces, luxurious finishes and fantastic views await the final few. GREAT SUITES ARE STILL AVAILABLE and ready for your personal tour now!

www.tamarackwellington.com

1140 Wellington St West

Starting From $

299,068